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Northern Trust Appointed by Bridgewater Associates for Hedge Fund Servicing

Northern Trust announced today it has been appointed by Bridgewater
Associates, one of the world's largest global hedge fund managers, to
independently replicate certain middle and back-office services for its
approximately $140 billion in assets under management, as part of
Bridgewater's ongoing back office transformation plan.

In a role that will create approximately 100 jobs in Chicago and
Stamford, Conn., Northern Trust will provide broad middle-office and
back-office services including replicating various administrative
processing, trade processing, valuation, real-time reporting, cash
management, accounting and collateral management services.

These services will be furnished by Northern Trust independently, as
well as mirroring and quality checking middle and back-office services
provided by another firm. Northern Trust's independent review and
validation of results will provide Bridgewater Associates and its
investors an enhanced level of oversight and controls with respect to
fund administration and middle and back-office functions. The
arrangement is planned to go live in 2014.

“We welcome this important strategic relationship with Bridgewater
Associates,” said Steven L. Fradkin, President of Corporate &
Institutional Services at Northern Trust. “As one of the largest and
most successful hedge fund managers in the world, with a long-standing
commitment to transparency and excellence, Bridgewater Associates
understands the value of a trusted global partner that can provide an
additional check and validation for their clients. This innovative
relationship sets a new standard of independence, which will benefit
Bridgewater's clients while reinforcing its leadership in the industry.”

“We are delighted to be working with Northern Trust and to draw on their
leading-edge technology and expertise for the benefit of our clients,”
said Eileen Murray, Co-President of Bridgewater Associates. “At a time
of unprecedented change and uncertainty for investors, Northern Trust's
independent review mandate as part of our ongoing transformation program
at Bridgewater is designed to provide an added level of protection and
security for our clients.”

Since Northern Trust acquired hedge fund administrator Omnium from
Citadel in July of 2011, the marketplace has delivered a strong response
to the combination of Northern Trust's trusted name and global scale
along with industry-leading, technology-driven hedge fund administration
services designed to support high volume and highly complex investment
strategies.

“This is a transformational relationship creating independent controls
and a new level of review and checks by two independent administrators,”
said Peter Sanchez, Chief Executive Officer of Northern
Trust Hedge Fund Services. “As the hedge fund business model
evolves, we expect our relationship with Bridgewater will lead the way
toward the structure and independent controls that hedge fund investors
will demand in the future.”

Northern Trust is one of the world's leading asset servicing providers,
offering global expertise and local specialist services to investment
managers and institutional
investors in more than 40 countries. Northern Trust's Corporate &
Institutional Services business unit is a leading global provider of
asset servicing, asset management, and related services to fund
managers, sovereign wealth funds, pension funds, foundations,
endowments, insurance companies and government funds. Northern Trust
serves clients worldwide with teams based in Dublin, Limerick, London,
Luxembourg, Guernsey, Chicago, New York and Hong Kong.

About Bridgewater

Bridgewater Associates is a global leader in institutional portfolio
management with approximately US$140 billion in assets under management,
including US$75 billion in its Pure Alpha strategies (a hedge
fund/GTAA/Portable alpha strategy) and US$65 billion in All Weather, a
diversified beta strategy/risk parity portfolio. Bridgewater began
investment operations in 1975, and is a pioneer in risk budgeting and
the separation of alpha and beta, managing Portable Alpha/GTAA, Hedge
Fund, Optimal Beta/Risk Parity, Currency Overlay, Global Fixed Income
and Inflation-Indexed Bond mandates. Bridgewater manages these
portfolios for a wide array of institutional clients globally, including
public and corporate pension funds, foreign governments and central
banks, university endowments and charitable foundations.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of
investment management, asset and fund administration, banking solutions
and fiduciary services for corporations, institutions and affluent
individuals worldwide. Northern Trust, a financial holding company based
in Chicago, has offices in 18 U.S. states and 16 international locations
in North America, Europe, the Middle East and the Asia-Pacific region.
As of September 30, 2012, Northern Trust had assets under custody of
US$4.8 trillion, and assets under investment management of US$749.7
billion. For more than 120 years, Northern Trust has earned distinction
as an industry leader in combining exceptional service and expertise
with innovative products and technology. For more information, visit www.northerntrust.com
or follow us on Twitter @NorthernTrust.